Coins.ph, the Philippines' most popular blockchain-based digital wallet, has announced the release of three new cryptocurrency tokens: USDC, Chainlink, and Kyber Network Crystal (KNC). Starting July 16, 2021, Coins.ph customers will be able to buy, sell, and store these three tokens directly through the Coins.ph app.
“We are thrilled to announce the addition of USDC, Chainlink, and KNC coins to our virtual assets platform,” stated Coins.ph CEO Nauman Mustafa. “This is the first of several repairs and changes we plan to make this year. While Coins.ph remains the Philippines' largest Virtual Assets Exchange, we owe it to our clients to continuously expand our goods and services to produce more value.” USDC, Chainlink, and KNC are ERC-20 tokens, which are a standard for creating Ethereum-based tokens. This allows them to use existing Ethereum wallets while still meeting their own specific requirements.
USDC is a stablecoin whose value is determined by the US Dollar. A stable coin is a cryptocurrency whose value is determined by steady assets, which reduces volatility. USDC was formed as a result of a partnership between Circle, a peer-to-peer payments technology company, and Coinbase, one of the world's largest cryptocurrency exchanges.
Chainlink is a decentralized oracle network that enables Ethereum smart contracts to obtain data from external sources. Any real-world data is provided, such as live weather, pricing feeds, and so on.
The Kyber Network Crystal (KNC) is the Kyber Network's native coin, which is one of the most well-known Ethereum-based decentralized exchanges.
“We are thrilled to see that Kyber Network's utility token KNC is now available to the Philippine community via the Coins.ph mobile wallet,” said Loi Luu, Kyber Network's CEO and Co-Founder. “Through the KyberDAO, Coins.ph users can participate in Kyber's governance with KNC.” While the tokens are new, the Coins.ph software is the same reliable mobile wallet that has been around for almost seven years. “The goal of Coins is to make bitcoin access simple and convenient for our users,” Mustafa explained.
To use these new tokens, customers only need to download the latest version of the Coins.ph app from the Google Play Store, App Store, or Huawei AppGallery. The USDC, Chainlink, and KNC wallets can be accessed by swiping left on the main wallet page. Customers must be Level 2 or have their ID and Selfie authenticated in order to utilize these cryptocurrency services.
To learn more about USDC, Chainlink, and KNC, go to support.coins.ph.
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